Innovation, customer experience, talent and reputation are the levers to counteract the effects of tariffs, political instability and commercial tensions.
Good news. In a difficult geopolitical context, where even the giants struggle, luxury shows itself to be resilient. In fact, the 2026 forecast for growth in revenues and margins is positive. Supporting him are the front lines of Italian luxury. According to Deloitte’s Global Powers of Luxury 2026, a report conducted on 420 luxury sector executives from 10 countries, 84% of the Italian executives interviewed expect stability or growth in revenues and 70% in operating margins. “In the next twelve months, the global luxury sector is preparing to pursue growth by adopting a pragmatic approach with targeted investments. The sentiment of the executives involved in the survey describes a confident but prudent industry: companies focus on price discipline, operational efficiency and selective investments, intervening carefully on resources, workforce and size of the retail network”, explained Ida Palombella, Global Fashion & Luxury Leader of Deloitte, “In a phase of strategic consolidation in which technology, brand and experience become essential to sustain desirability and resilience in a more selective global market, luxury players are increasingly focusing on innovation, AI-enabled operations, customer experience and reputation.” According to the analysis, China will still lead growth despite the slowdown in the domestic market in the last two years, followed by Japan, the Middle East, Asia Pacific and India. In detail, the segment with the highest potential is Travel and in particular the experiential area, while expectations on Beauty, Apparel & Footwear, Jewelry and Watches are less exciting. But what will be the transformative drivers capable of driving companies towards growth? According to the report, Artificial Intelligence and Sustainability are the key themes: the former is considered crucial to unlock efficiency, personalization and creativity; the second is the fundamental vehicle for reaching new generations of consumers. And it is to be expected that the two aspects will grow hand in hand. In fact, AI, which is already integrated into the most relevant functions in only one company out of 8, will be fundamental to building the pillars of what professionals call conscious luxury and which will be the new frontier of high-spending consumption.
